# HDFC Home Loan EMI Calculator

Calculate EMI for your HDFC Home Loans and plan your New Home seamlessly via INDmoney's HDFC Home Loan Calculator.
%
Yr
Monthly EMI
63,338
Principal Amount
50,00,000
Total Interest
26,00,560
Total Amount
76,00,560

## HDFC Home Loans

Interest Rates and Eligibility Criteria:

• Interest rates range from 8.50% to 9.40%.
• Special rates are provided for women borrowers.
• Eligible borrowers fall within the age range of 24 to 60 years.

Loan Terms and Options:

• Loan tenure options range from 5 to 30 years, offering flexibility to borrowers.
• A favorable Loan to Value Ratio of 70-90% is available.

Applicant Variety and Security Options:

• Lenders cater to both salaried and self-employed applicants.
• Property pledged as security can be the one you plan to buy, renovate, or construct.

## How does an HDFC Home Loan EMI calculator help?

HDFC Home Loan EMI calculators is curated to help you calculate EMI's on your HDFC Home Loans seamlessly:

They offer several advantages, such as:

Accuracy: Avoid errors in manual calculations.

Time-Saving: Instantly calculate EMIs, saving you time.

Budget Planning: Determine if the loan fits your budget.

Comparison: Compare EMIs from different lenders.

Amortization Schedule: Understand the loan repayment schedule.

This calculator empowers you to make informed decisions, helping you to select loan terms that align with your New Home buying.

## HDFC Home Loan EMI Calculation Formula

Calculating your home loan EMI is straightforward using a standardized formula:

E = P * r * (1 + r)^n / ((1 + r)^n - 1)

Here's what each variable represents:

E: EMI (Equated Monthly Installment)

P: Principal amount

r: Applicable rate of interest

n: Number of EMIs

For instance, if you opt for a ₹80 lakh loan with a 9% interest rate for a 20-year tenure, your EMI can be calculated as follows:

E = 80,00,000* 9* (1 + 9)^240 / ((1 + 9)^240 - 1)

This computation results in an EMI of approximately ₹ 71,978.

INDMoney's HDFC Home Loan EMI Calculator does this calculation for you in a jiffy and lets you know the exact EMIs saving you from this tedious calculation.

It's important to note that for home loans with a fixed interest rate, the EMI remains constant throughout the loan tenure. However, for home loans with a floating interest rate, you may need to use the HDFC housing loan EMI calculator each time the interest rate changes.

## Benefits of Using IND Money’s HDFC Housing Loan Calculator

• Effortless Planning: Our online home loan EMI calculator simplifies housing finance planning. It provides crucial details like monthly installment (EMI), net interest payable, and the total amount due.
• Time-Saving: Say goodbye to manual calculations. With a few simple inputs, our calculator delivers instant results, saving you valuable time and effort.
• Latest HDFC Interest Rates : IND Money’s HDFC home loan calculator calculates the EMI based on the latest HDFC Home Loan Interest Rates.
• Optimal Loan Tenure: Determine the ideal loan tenure based on your repayment capacity. Easily assess your ability to repay by considering your monthly income, expenses, and savings.

## HDFC Home Loan Eligibility Criteria

HDFC provides home loans with attractive interest rates, kicking off at just 8.60% per annum. You have the flexibility to repay your home loan over a generous 30-year period. However, it's crucial to note that loan approval hinges on meeting specific eligibility criteria.

Your eligibility is determined by factors like your employment status, age, credit score, and monthly/annual income. Once these parameters are evaluated, the bank will determine your loan amount and decide whether to approve your application.

## HDFC Home Loan Interest Rate Calculation

HDFC Home Loans provides affordable options for eligible borrowers, offering interest rates that start at just 8.60% per annum. You can begin your home loan journey with an EMI as low as Rs. 762 per lakh for loan tenures of up to 30 years.

The processing fee for these housing loans is straightforward:

For employed individuals, it's a maximum of Rs. 3,000 (plus taxes).

For self-employed individuals, it's a maximum of Rs. 5,000 (plus taxes).

It's an easy and cost-effective way to finance your dream home with HDFC Home Loans.

## HDFC Bank's Repayment Plans

HDFC Bank offers a variety of repayment plans to boost your home loan eligibility, catering to different needs:

Step Up Repayment Facility (SURF): SURF aligns your repayment schedule with your expected income growth. Initially, you can secure a higher loan amount and pay lower EMIs. As your income rises, your repayments increase accordingly.

Flexible Loan Installments Plan (FLIP): FLIP provides a tailored solution to match your changing repayment capacity over the loan term. EMIs start higher and then decrease in line with your income.

Tranche Based EMI: When buying an under-construction property, you can opt to pay only interest until the loan is fully disbursed, then transition to regular EMIs. If you prefer, you can start principal repayment immediately by choosing the tranche option.

Accelerated Repayment Scheme: This plan allows you to boost your EMIs annually as your income grows, helping you repay the loan faster.

Telescopic Repayment Option: With a repayment period of up to 30 years, this option increases your loan eligibility while keeping EMIs manageable.

• ### How to Calculate EMI on HDFC Home Loans?

HDFC Home Loan EMI is calculated using a Formula:

EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]

Where,

P = HDFC Home Loan Amount

R = HDFC Home Loan Interest Rate ; HDFC Interest Rate ranges from 8.50% to 10.20%

N = Loan Tenure

• ### What is Pre-EMI Interest on a Home Loan?

Pre-EMI represents the monthly interest payment on your home loan. During this phase, which lasts until the loan is fully disbursed, you only pay interest, not the principal amount. The actual loan tenure, along with regular EMIs (comprising both principal and interest), begins once the Pre-EMI period concludes—after the full loan amount has been disbursed.

• ### What's the Maximum Home Loan Amount I Can Get?

To secure a home loan, you generally need to contribute 10-25% of the total property cost, depending on the loan amount. You can obtain a housing loan covering 75% to 90% of the property's cost. For construction, home improvement, and extension loans, you can fund 75% to 90% of the estimated construction, improvement, or extension expenses.

• ### Can I Secure Home Loan Approval Before Choosing a Property?

Yes, you can apply for a pre-approved home loan, which offers preliminary approval based on your income, creditworthiness, and financial position. Pre-approved loans are typically taken before selecting a specific property and remain valid for six months from the loan sanction date. This gives you flexibility in choosing your ideal property.